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Defenses are weakening as devices age

My smartphone is aging. The screen doesn’t always respond to my finger, the camera is mildly fogged over from scratches and dust on the inside, and the metal bits have little divots from drops. Sometimes when I press the “home” button, nothing happens.

My laptop is sluggish, too. The U key is sticky, the processor is beginning to struggle amidst a wealth of recent programs, and certain features aren’t available to my 4-plus-year-old computer. Every now and then the computer freezes up and I constantly have to be vigilant.

I’m a massive tech nerd, and when I begin to see cracks in performance and usage, I immediately jump to one conclusion: time for an upgrade. I can quickly rationalize the “need” for new. Look at all of these aforementioned faults and — hey! — I’m a digital writer/blogger. I need these things, right?

Lusting for the latest

In college I upgraded computers about every year at great expense. Smartphone upgrade plans didn’t matter to me. I spent the full price when necessary and negotiated early upgrades when possible.

The smell of freshly molded plastic was a beautiful sensation. I lusted after that unboxing process — from the plastic wraps to physical perfection. Hundreds — no, thousands — were spent to maintain this status and newness. I couldn’t stand to keep something that no longer was the point of affection for others. The commercials had changed to newer, “better” devices, and I unconsciously moved in unison.

Juxtaposed with my love for the latest and greatest was a powerful disgust that developed for the old. That technology became embarrassing and frustrating for me. But now, I’m holding back for the first time in my life.

Learning to resist the urge to upgrade

Admittedly, this process of buying less and refusing to upgrade early has been slow. After years of buying conspicuously, I’ve turned a new leaf. I don’t want to buy new immediately anymore. Here’s what keeps me grounded:

Value comes in time — it’s not a flash in the pan.

I want to purchase devices that last and take advantage of that worth. And there’s a lot of time to take advantage of lasting material goods. Think about it, life expectancy for those in the U.S. is about 78.7 years. That only leaves a set number of devices, objects, and material possessions over the course of a lifetime. Make them count.

Climate change is worsening

There are other reasons to resist the spending. Constant changes in technology and devices contribute to far greater climate change. Those electronics and material goods are likely made in China, shipped or flown across the Pacific Ocean, and trucked and trained to their final destinations. From the packaging, production, transportation, and actual purchase, tremendous amounts of energy must be used. And most of it is from fossil fuels — the kind that contributes to climate change.

Forever young only exists in music lyrics

I cannot help but notice that the same magazines, newspapers, and websites that advertise beauty products also share the latest gadgets. The beauty culture encourages us to stay young; forever, at great cost. Similarly, our beauty culture has disconnected and made us feel fearful about aging. Our devices are no longer timeless investments — they are planned for obsolescence. Be wary of these messages that try to subtly obliterate your older device.

That money can go to a million better places

If the preceding reasons weren’t enough, it costs a lot of money to upgrade constantly. Save the money, put it to work in the stock market, donate it to charity, or fix your bike. Nearly anything is better than spending it on a slightly newer device.

Can our devices get worn in, and could we actually begin to appreciate this character and value? How did we become so fearful of having something old?

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College campuses are hotbeds for new technologies, fads, and styles. Over the last couple semesters I’ve noticed a sizeable uptick in people wearing fitness trackers. These sleek, bracelet-like devices can track your steps, calories burned, food eaten, exercise routines, and sleep habits. Many can wirelessly sync to computers and smartphones.

Fitness trackers have long intrigued me, as a runner and frequent exerciser. Personally, I think the feedback would be helpful and encourage more healthy routines. I’ve seen both athletic and overweight populations wearing them. They seem perfectly suited to both populations’ needs. Despite these ample benefits, I haven’t purchased one because I think they should be free.

Photo: brianac37/flickr

Insurance Companies Want Healthy Consumers

Health insurance costs escalated rapidly in recent years. Far surpassing inflation and comparable countries’ medical costs per capita, health coverage is a thorn for many individuals and small businesses. At times, the price of quality health care can be hard to come by if you’re on a tight budget.

Certain health provider groups started catering to athletes and highly-active individuals a few years ago. By developing a niche group of actuarially healthy individuals, the company could lower the cost of everyone’s premiums. Quite simply, it’s profitable for health insurers to encourage healthy choices in their clients.

Let’s Use Fiction To Inspire

Last year, Dave Eggers published his latest novel entitled, The Circle. Set in San Francisco and other parts of Northern California, the book takes the reader on a journey around a company that largely resembles Google. It’s a tech savvy, forward thinking company, that aims to collect everything and give people access to all the world’s information. Despite being insanely creepy at times, The Circle introduces some brilliant tech revolutions.

The one that is most apropos to this article is about a fitness tracker health insurance program. A free part of having this imaginary company’s health insurance is the access to one of these devices. It’s always on and managing your heart rate, calories burned, and tracking your sleep. The device is given at no cost to the employees because they can manage and encourage healthier habits – helping people live longer and cutting costs in heart-related procedures.

The Perfect Price Is Free

I have a serious bias because I’d like a fitness tracker. I think it would encourage me to exercise more regularly and eat healthier. Recognizing and tracking the strengths and weaknesses in your activity choices could positively influence much of the countries heart-related complications.

Ideally, health insurers will recognize the financial appeal of such devices and encourage certain clientele to use these trackers. By encouraging people to engage in more healthy behavior and connecting it with a financially solvent future, it may make the impetus and desire to exercise more potent.

The perfect price is free. This would eventually be a win-win for consumers, innovators, and the health insurers. This leap into technology has been stifled by prices that tend to be over $100 for trackers. As prices begin to decline (inevitably with all technology), fitness trackers may be a more easy choice for everyone involved.

Have you thought about getting a fitness tracker? Would you like your medical insurance to offer a free one?

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Photo: RobotSkirts/Flickr

Before I flipped out and got all frugal on everyone, I was taking out as many student loans as the good ol’ US of A would lend me. At times, I was engaging in some questionable personal finance practices – balance transfers (aka, robbing Peter to pay Paul). I felt pretty helpless, but people around me kept saying encouraging remarks, as the bulk of my loans were for school.

Unfortunately, the investment and loan damage that’s incurred to graduate from university programs varies tremendously. Some programs are a wonderful investment of time and money – they’ll most certainly add up to a great job, benefits, and an easy retirement. Others are a bit more vague. Something just doesn’t sit right when people say one kind of debt is better than others.

In an effort to reduce as many extra costs as I can, I’ve frequently thought about a lifestyle downgrade. What is it, you may ask? Essentially, it’s about getting rid of as many of necessarily technological advances as you can and pocketing the difference in money to pay off debt. With around $30,000 in debt left to pay off, I recognize that every little bit can help. Moreover, the bulk of this $30,000 currently gets taxed at an abysmal, life-suffocating 6.8 percent, courtesy of the federal government. It’s easy to imagine selling some unnecessary creature comforts and design elements to close this gap.

There Are Assets At Your Fingertips

Photo: Kacper Pempel/Reuters

Many articles about personal finance stress removing your daily coffee at Starbucks or packing a lunch. These tips will certainly lead to better budgeting when you’re seriously starved for cash, but there’s more that can be done. Usually, it takes no more than a simple glance at the device you’re using to read this article. Are you using the latest technology? Is that an iPhone 5 in your pocket, or are you just happy to see me?

Personally, I have a number of assets that are slowly depreciating – losing their resale value every day I own them. About a year ago I bought a white iPhone 5 and a couple years before that, I purchased a Macbook Air. The iPhone 5 was purchased on contract and cost the traditional $199 upfront, but these devices are worth WAY more than that on eBay. The Macbook Air was purchased for over $1,000. Unfortunately, the computer has depreciated quite a bit over time. But how much could I sell these items to restructure my life, spending habits, and pay off the burgeoning amount of student loan debt I have?

Choose Your Medium Wisely

When it comes to selling used goods there are three major options: eBay, Craigslist, or your local pawn store. Pawning your old accessories can be the worst option. Because there is a middleman to the transaction between buyer and seller, you’ll likely lose a lot of value. To their credit, a pawn store needs to make a profit, too – there are margins to any business. For the purposes of making the most you can off of your tech and accessories, let’s rule this out.

Next, we should consider Craigslist. In case you’ve been living under a rock for about a decade (and you will be soon by selling off all these newer technologies), Craigslist is the ultimate local classifieds and it’s completely free to buy and sell online. This method will net you the largest profit as there won’t be any commissions skimmed in the process (unlike with pawn stores and eBay). The one risk is that you’re dealing face-to-face with other people, and they may not necessarily be interested in dealing fairly once you meet in person. Similarly, you’ll likely have to spend more time responding to personal emails and arranging meetings to finally sell the item.

The last (but not least) option is eBay. The auction site has become a behemoth in the tech world. It’s by far the easiest and most populated area for buying and selling goods. As a buyer, it can be a wonderful way to find used goods at deep discounts, but as a seller, eBay is a little less friendly. For starters, eBay takes a cut every time you make a sale. Then, like the mafia, they have created one payment process that they own: PayPal. You’ll suffer another payment cut there, too. eBay ranks somewhere in between a pawn store and Craigslist for the money you’ll make, but it’s a safe platform and guarantees a sale within a certain, set period of time.

Reap Your Rewards And Pay Off Debt

Acer C720 Chromebook

In the end, the goal is to sell off the unnecessarily advanced, profit off the difference of a lifestyle downgrade, and pay off some debt. If I were to sell my Macbook Air and iPhone 5, I’d probably net about $1,000 off the entire transaction. By selling these goods, I could buy a cheap, affordable computer and buy an older, used smartphone.

Using the same methods outlined before, I would recommend looking on Craigslist and eBay for used laptops and smartphones. The Galaxy Nexus – once the hottest phone on the market – now is a bargain at $60 used, off contract. That would take my net profit down to around $960. As a graduate student and heavy researcher, I would absolutely still need a computer for day-to-day work. The most affordable computers on the market are Chromebooks. I could easily buy a used Chromebook for around $125. After buying both downgraded accessories, I would net about $835 for loan debt.

With all lifestyle downgrades there will be sacrifices. Google Chromebooks are not fully-featured laptops and there are a number of restrictions you’ll bump up against. Older model smartphones may have worsening battery life and poor reception at times.

The question then becomes, is the sacrifice and debt payment worth your inconvenience and potential discomfort?